Apple SVP Phil Schiller sold nearly $18.6 million in company stock this week and SVP Dan Riccio sold nearly $1.9 million, reports AppleInsider. Both sold their shares on Wednesday, according to a filing with the SEC.

The SEC filings note Apple SVP of Worldwide Marketing Schiller executed a trade on Wednesday worth $18.59 million, while SVP of Hardware Engineering Riccio let go of $1.88 million in AAPL stock that same day. Schiller sold 37,172 common stock shares at a price of $500. Riccio disposed of 3,754 shares in a total of 11 trades ranging in price from $498 to $502, each reflecting the weighted average sale price.

Reason why they are selling is because they know stocks will drop soon so they are both dumping their stocks at a higher price bracket before the stock drops to a low. Better to pull out some stock to make millions before the drop happens. This indicates that some soon will happen at Apple. And they don't want to lose out and get caught with their pants down. BTW he did this twice already. And many others dumped their stocks as well... Something is gonna happen. - just sit back and watch as it unfolds and enjoy the show.